Innovation is at the heart of Maryland’s economy and the wellbeing of patients in our state. New, groundbreaking cures and treatments save and extend the lives of patients, pushing the bounds of modern medicine, for the benefit of all. Innovative companies are able to leverage Maryland’s combination of technology know-how, business-friendly climate, and highly-educated, highly-skilled workforce to produce these cures and provide hundreds of thousands of Marylanders with well-paying jobs.
However, despite all this, the Maryland General Assembly is currently debating drug pricing legislation that would threaten the innovative potential that makes these benefits possible. New regulations, SB 1023/HB 1194, would create a government-controlled commission with broad leeway to influence drug prices and increase burdensome reporting requirements adding yet another layer of complexity to drug manufacturing.